Price for a Moncton single family detached dwelling slipping in 2016

| Buyers of Moncton homes are having it their way as the Moncton benchmark price slipped in each of the first four months of 2016. The benchmark price for a detached home in Moncton North is the highest in the city. That said, it has fared slightly better than the three other sub-areas: Center, East and West. Currently there is a more than ample supply of homes listed for sale in the real estate market. Buyers will likely have the advantage in the local market for the rest of this year. However buyers will still need to be diligent when shopping in this real estate market. Buyers would be wise to be represented by their own agent. Comparing properties and negotiating conditions, prices and terms can be daunting.

MLS® HPI data is revealing and available to anyone on the web.

Greater Moncton housing prices are the lowest in the survey group’s single family property type, hovering around the 200 thousand mark. Greater Montreal and Ottawa are both between the 300 and 400 thousand mark. The Greater Toronto Home price Index benchmark is well above the 600 thousand line. And steadily rising. Anyone can use the HPI Tool online at homepriceindex.ca so why not try it?

I have represented many first time home buyers since I became licensed in 1975.

Ideally we would meet before first-time homebuyers come in contact with licensees who represent the Sellers of potential properties. Early meetings provide the best opportunity for first-time homebuyers to fully appreciate their rights in real estate. I am speaking of the right to single agency representation, the right to undivided loyalty, the right to confidentiality and the right to full disclosure. First-time homebuyers often compromise their rights too early in the house hunting process. I’m a real estate licensee who takes the role of client representation seriously. I won’t ask buyer clients to agree to diminished or minor representation (sometimes called double agency or dual agency). Continue reading →